US sanctions UAE shippers over price cap violations
The United States has imposed sanctions against three shipping companies based in the United Arab Emirates for allegedly violating the $60 per barrel cap on the price of Russian oil.…
US still importing banned Russian oil products
Despite the sanctions, the US Department of Defense continues to purchase petroleum products that are made using Russian oil, the WP reported. The Greek refinery Motor Oil Hellas, which is…
China launched world’s fastest internet
China has launched the world’s fastest internet with a data transfer rate of 1.2 terabits (1,200 gigabits) per second, the SCMP reported. This speed is a new record, equal to…
Hedge funds short US financial stocks at near record levels
Global hedge funds built bearish positions this week to the highest level in nearly five years, Reuters reported. “Financials was the most net sold sector on the US prime book…
US states’ falling revenues could force tax increases, expert warns
US states’ tax revenues are declining, leaving them facing tough budget decisions in the coming years. Total state tax revenues in September fell 5.6% year-on-year for the 14th consecutive month…
Disastrous: US almost couldn’t borrow money
Yesterday, the US government attempted to borrow $24 billion by selling some fresh 30-year debt. It was a huge disaster. In order to attract enough buyers, the rate had to…